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3 years ago

What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)?

1 answer:

4 0

The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.

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What is a tax refund?

Tatiana [17]

Answer:

A tax refund is essentially a payment to the taxpayer when the taxpayer pays more tax than they owe.

Explanation:

May I have brainliest please? :)

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3 years ago

A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.

Wittaler [7]

A Small business is defined as a business that is independently owned and operated and is not dominant in its field of operations.

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3 years ago

Nike Inc is one of the world leading atheletic shoes manufacturer. The following activities occurs during the recent year: Purch

Ksenya-84 [330]

Explanation:

The journal entries are shown below:

1. Building A/c Dr $176

Equipment A/c Dr $270

To Cash A/c $408

To Note payable A/c $38

(Being the building and the equipment is purchased for cash and note payable)

2. Cash A/c Dr $345

To Common stock $240 (120 shares × $2)

To Additional paid in capital A/c - Common stock A/c $105

(Being the common stock is issued for cash)

3. Retained earnings A/c Dr $145

To Dividend payable A/c $145

(Being the dividend is declared)

4. Short - term investment A/c Dr $7,616

To Cash A/c $7,616

(Being the short term investment is purchased for cash)

5. No journal entry is required

6. Cash A/c Dr $4,413

To Short - term investment A/c $4,413

(Being the short-term investment is purchased)

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3 years ago

Bonds are a form of ________, with bond prices and interest rates that move in _________ . a. equity; the same direction b. equi

forsale [732]

Answer:

(d) debt; opposite direction

Explanation:

Bonds or debentures represent fixed interest bearing instruments issued by corporates to raise long term funds i.e usually greater than 1 year repayable after a fixed duration.

Bonds could be of various forms such as zero coupon bonds, deep discount bonds, face value bonds etc

The common aspect of all being bonds represent debt which a corporation owes which must be repaid after a fixed duration. Also bonds demand periodic interest payments i.e fixed obligation which cannot be refused by the issuer company.

There is an inverse relationship between bond prices and market interest rates.

Reason : This is because if a higher interest rate prevails in the market than the coupon rate offered by the issuer, the issuer will have to reduce the price of it's bonds so as to make them attractive else investors would rather invest in other bonds in the market offering a higher rate of return.

7 0

3 years ago

A retail establishment accepts either the American Express or the VISA credit card. A total of 24 percent of its customers carry

kozerog [31]

Answer:

The answer is: 74% of its customers carry a credit card the store will accept.

Explanation:

Let A denote the event a customer carries American Express credit card (24%)
Let V denote the event a customer carries Visa credit card (61%)
Let AV denote the event a customer carries both credit cards (11%)

P(A ∪ V) = probability that a customer carries at least one credit card

P(A ∪ V) = P(A) + P(V) − P(AV)

P(A ∪ V) = 0.24 + 0.61 − 0.11 = 0.74

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3 years ago